Final results of Oriola-KD's rights offering: the offering was oversubscribed
6.3.2015
Oriola-KD Corporation Stock Exchange Release 6 March at 12.30 p.m.
Not for publication or distribution, directly or indirectly, in or into
Australia, Canada, Hong Kong special administrative region of the People's
Republic of China, Japan, New Zealand, South Africa, Singapore or the United
States or any other jurisdiction in which the distribution or release would be
unlawful.
Final results of Oriola-KD's rights offering: the offering was oversubscribed
* Rights offering oversubscribed by approximately 30.8 per cent regarding A
shares and by approximately 52.6 per cent regarding B shares
* Gross proceeds of approximately EUR 75.6 million were raised
* Due to oversubscription, the subscription guarantee was not utilised
The Board of Directors of Oriola-KD Corporation ("Oriola-KD" or the "Company")
has today approved in full all subscriptions made pursuant to subscription
rights in the rights offering that ended on 3 March 2015. In the offering
12,334,694 new A shares (the "New A Shares"), representing approximately 130.8
per cent of the 9,429,742 New A Shares offered, and 31,732,984 new B shares (the
"New B Shares" and jointly with the New A Shares, the "Offered Shares"),
representing approximately 152.6 per cent of the 20,798,643 New B Shares
offered, were subscribed for. The shares subscribed for represent in total
approximately 145.8 per cent of all Offered Shares.
9,031,132 New A Shares and 20,224,876 New B Shares, representing approximately
96.8 per cent of all Offered Shares, were subscribed for on the basis of
subscription rights. 3,303,562 New A Shares and 11,508,108 New B Shares,
representing approximately 49.0 per cent of all Offered Shares, were subscribed
for without subscription rights in the secondary subscription. Of the Offered
Shares in the secondary subscription, 398,610 New A Shares and 573,767 New B
Shares were allocated to subscribers in proportion to the number of subscription
rights exercised. The subscription guarantee given by Triton IV Luxco No. 16 S.à
r.l was therefore not utilised.
The subscription price for the New A Shares and the New B Shares was EUR 2.50
per share. Oriola-KD raised gross proceeds of approximately EUR 75.6 million
through the offering. As a result of the offering, the total number of shares in
Oriola-KD will increase to 181,486,213 shares, of which 56,578,452 are A Shares
and 124,907,761 are B Shares. The Offered Shares will entitle in full to any
possible dividend distributed by the Company as well as produce other
shareholders' rights in the Company as of the time the Offered Shares are
entered into the Finnish Trade Register, which is estimated to take place on or
about 9 March 2015.
Trading in the interim A shares (trading code OKDAVN0115) and the interim B
shares (trading code OKDBVN0115), representing the Offered Shares subscribed for
pursuant to subscription rights, commenced on 4 March 2015. The interim shares
representing the Offered Shares will be combined with the Company's respective
current share classes (the trading code of the A shares is OKDAV and trading
code of the B shares OKDBV) once the Offered Shares have been registered in the
Finnish Trade Register. The Offered Shares subscribed for and approved in the
secondary subscription will be recorded on the subscribers' book-entry accounts
on or about 9 March 2015. Trading in the Offered Shares on the NASDAQ OMX
Helsinki Ltd stock exchange will begin on or about 10 March 2015.
The shareholders and other investors who participated in the secondary
subscription will be sent a confirmation specifying the number of Offered Shares
allocated on the basis of the secondary subscription on or about 9 March 2015.
To the extent that the Company did not allocate all the Offered Shares
subscribed for in the secondary subscription, as set out in an investor's
subscription order, the Company will refund to the investor the subscription
price corresponding to the Offered Shares that were not obtained on or about 9
March 2015.
Pohjola Bank plc acts as the lead manager of the offering. Hannes Snellman
Attorneys Ltd is the legal advisor of Oriola-KD.
ORIOLA-KD CORPORATION
Tuomas Itkonen
CFO
ADDITIONAL INFORMATION:
Tuomas Itkonen
CFO
Tel: +358 40 596 4004
e-mail: tuomas.itkonen@oriola-kd.com
Eero Hautaniemi
President and CEO
Tel: +358 10 429 2109
e-mail eero.hautaniemi@oriola-kd.com
Distribution:
NASDAQ OMX Helsinki Ltd
Key media
Released by:
Oriola-KD Corporation
Group Communications
Orionintie 5
FI-02200 Espoo, Finland
www.oriola-kd.com
DISCLAIMER
The information contained herein is not for publication or distribution,
directly or indirectly, in or into Australia, Canada, the Hong Kong special
administrative region of the People's Republic of China, Japan, New Zealand,
South Africa, Singapore or the United States. The issue, exercise or sale of
securities in the offering are subject to specific legal or regulatory
restrictions in certain jurisdictions. The Company assumes no responsibility in
the event there is a violation by any person of such restrictions.
The information contained herein shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction. Investors must
neither accept any offer for, nor acquire, any securities to which this document
refers, unless they do so on the basis of the information contained in the
applicable prospectus published by the Company.
These written materials do not constitute an offer for sale of securities in the
United States, nor may the securities be offered or sold in the United States
absent registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended, and the rules and regulations thereunder. There is no
intention to register any portion of the offering in the United States or to
conduct a public offering of securities in the United States.
The Company has not authorised any offer to the public of securities in any
member state of the European Economic Area other than Finland. With respect to
each member state of the European Economic Area other than Finland which has
implemented the Prospectus Directive (each, a "Relevant Member State"), no
action has been undertaken or will be undertaken to make an offer to the public
of securities requiring publication of a prospectus in any Relevant Member
State. As a result, the securities may only be offered in Relevant Member States
(a) to any legal entity which is a qualified investor as defined in the
Prospectus Directive; or (b) in any other circumstances falling within Article
3(2) of the Prospectus Directive. For the purposes of this paragraph, the
expression "an offer of securities to the public" means the communication in any
form and by any means of sufficient information on the terms of the offer and
the securities to be offered so as to enable an investor to decide to exercise,
purchase or subscribe the securities, as the same may be varied by any measure
implementing the Prospectus Directive in that Relevant Member State, and the
expression "Prospectus Directive" means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in
the Relevant Member State), and includes any relevant implementing measure in
the Relevant Member State and the expression "2010 PD Amending Directive" means
Directive 2010/73/EU.
The information contained herein shall not constitute a public offering of
shares in the United Kingdom. This document is only being distributed to and is
only directed at (i) persons who are outside the United Kingdom or (ii) to
investment professionals falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii)
high net worth companies, and other persons to whom it may lawfully be
communicated, falling within Article 49(2) of the Order (all such persons
together being referred to as "relevant persons"). Any investment activity to
which this document relates will be only available to, and will be engaged in
only with, relevant persons. Any person who is not a relevant person should not
act or rely on this announcement or any of its contents.
[HUG#1900066]